By: Darrell Castle
Fighting over money and debt can ruin even a good marriage
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Video Transcript
How can debt affect a marriage?
Hi, I’m Darrell Castle and I’m an attorney licensed to practice law in the state of Tennessee and we know that money is the leading cause of divorce.
Fighting over money and debt can ruin even a good marriage. It really causes resentment. It’s all about stress.
When one person works and another person doesn’t work. When one person has a lot of debt and the other doesn’t have any debt, but they both pay it back. One’s a saver and one’s a spender. All of those things cause resentment.
You can’t save anything because you have so much debt accumulated so you never seem to get ahead and you’re always on a treadmill, just running and running and running but never getting anywhere because you have so much debt. That’s the way it is and that’s what breaks up marriages.
My advice to you folks – get out of debt. If you can pay your debt back, then by all means do so. But if you can’t, then consider bankruptcy. If you consider bankruptcy and you do that, then you can have a fresh start. You can start clean. You can clean up the mistakes that you’ve made and you can save your marriage.
So get out of debt folks. You’ll be glad you did.